-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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“ The usual gang of idiots “, will make speeches and thump their chests about how
Much we need to help out with free money for East St. Louis. We need to speak the truth
We don’t have any extra money to give.
The idiots know the good times are over, the money is moving out of Illinois, sit back and
Have a good laugh watching this sh..show
Develop .
East St. Louis population dwindles yet it demands more and more money per capita to pay for assorted services that do not downsize with the population losses. The leaders, rather than downsize, have not paid the full pension obligations and now the recipients of the pensions make their demands. My prediction is things like this will eventually spread across the State as time goes on. Remember this day as it may very well come to you someday too.
Where will they get the money from? East St. Louis is crime ridden. Home values are very low. Per capita income is extremely low. https://www.city-data.com/income/income-East-St.-Louis-Illinois.html
https://crimegrade.org/safest-places-in-east-st-louis-il/
Getting blood out of rocks will be easier than getting money from mostly poor people.
Years ago, ESTL was on the losing end of a lawsuit brought by a man in custody that was beaten so severely he was crippled. They didn’t have the money to pay the judgment and had to give the family ownership of City Hall.